“Naftogaz” vs “Gazprom”. Key numbers from the victory over the Russian gas monopolist
“Naftogaz” has won the arbitration against Gazprom ‘s gas supply contract on all contentious issues, reported the press service of the Ukrainian company.
According to the report,
- The arbitration court fully dismissed the claims of “Gazprom” provision “take or pay” in the amount of $ 56 billion. in 2009-2017 gg.
- “Naftogaz” has achieved reduction of future required annual volume of more than 10 times in accordance with its actual requirements to import gas
- The price of gas from “Naftogaz” in Q2 2014, decreased 27% from $ 485./thousand cubic metres to $ 352./thousand cubic meters
- Due to the revision of the contract price, “Naftogaz” has saved 1.8 billion us dollars. gas purchased in 2014-2015.
- The arbitration court nullified the onerous provisions of the contract, bringing it to the European market standards
- Naftogaz estimates the total positive effect of arbitral awards in more than 75 billion dollars. for the entire term of the contract for the supply of gas
It is noted that “Naftogaz” requires up to $ 16 billion. in arbitration on transit contract; a decision is expected on 28 February 2018.
Naftogaz Of Ukraine
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